Office Depot 2003 Annual Report Download - page 54

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Office Depot 2003 / Form 10-K 52
For 2003, options to purchase 15.7 million shares of
common stock were not included in our computation
of diluted earnings per share because their effect would have
been anti-dilutive.
NOTE M—Supplemental Information on Operating,
Investing and Financing Activities
Additional supplemental information related to the
Consolidated Statements of Cash Flows is as follows:
(Dollars in thousands) 2003 2002 2001
Cash paid for:
Interest . . . . . . . . . . . . . $ 41,869 $ 47,114 $16,905
Taxes. . . . . . . . . . . . . . . 102,623 111,597 13,080
Non-cash asset additions
under capital leases . . . 10,664 10,395 8,256
Additional paid-in capital
related to tax benefit on
stock options exercised
(See Note J) . . . . . . . . . 11,059 20,453 10,218
NOTE N—Segment Information
Office Depot operates in three reportable segments: North American Retail Division, Business Services Group (“ BSG”), and
International Division. Each of these segments is managed separately primarily because it serves different customer groups. The
accounting policies for each segment are the same as those described in the summary of significant accounting policies (see Note A).
The following is a summary of our significant accounts and balances by segment, reconciled to our consolidated totals.
North American International Eliminations Consolidated
(Dollars in thousands) Retail Division BSG Division and Other* Total
Sales 2003 . . . . . . . . $5,650,051 $3,965,271 $2,746,535 $ (3,291) $12,358,566
2002 . . . . . . . . 5,804,449 3,913,902 1,641,411 (3,129) 11,356,633
2001 . . . . . . . . 5,842,648 3,763,006 1,480,103 (3,645) 11,082,112
Segment Operating Profit 2003 . . . . . . . . $ 313,976 $ 387,887 $ 370,748 $ (705) $ 1,071,906
2002 . . . . . . . . 419,738 364,624 212,127 (647) 995,842
2001 . . . . . . . . 308,300 291,208 212,179 (655) 811,032
Capital Expenditures 2003 . . . . . . . . $ 58,272 $ 17,262 $ 68,532 $ 67,875 $ 211,941
2002 . . . . . . . . 50,149 28,524 67,551 55,994 202,218
2001 . . . . . . . . 76,337 44,087 57,509 30,123 208,056
Depreciation and Amortization 2003 . . . . . . . . $ 91,991 $ 35,411 $ 39,645 $ 81,298 $ 248,345
2002 . . . . . . . . 88,737 39,336 16,487 56,187 200,747
2001 . . . . . . . . 88,227 45,699 15,973 48,324 198,223
Charges for Losses on 2003 . . . . . . . . $ 56,857 $ 32,065 $ 29,360 — $ 118,282
Receivables and Inventories 2002 . . . . . . . . 36,627 36,991 19,602 — 93,220
2001 . . . . . . . . 35,739 53,712 19,239 — 108,690
Net Earnings from Equity 2003 . . . . . . . . ——$11,056 — $ 11,056
Method Investments 2002 . . . . . . . . — — 9,279 — 9,279
2001 . . . . . . . . — — 10,892 — 10,892
Assets 2003 . . . . . . . . $1,551,734 $ 988,753 $2,255,846 $1,348,909 $ 6,145,242
2002 . . . . . . . . 1,653,524 1,063,700 771,734 1,276,854 4,765,812
*Amounts included in “ Eliminations and Other”consist of inter-segment sales, which are generally recorded at the cost to the
selling entity, and assets (including all cash and equivalents) and depreciation related to corporate activities.
OFFICE DEPOT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)